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For the last 2 years we have been living with the in laws. We finally made it work with my husband's employment to sell our house and get a remote primary address. We plan to stay another year or two with the in laws before getting our own place, but are very concerned about what to do with our money to buy the next house.
With a 10% inflation rate, the approximately $300k we get from the sale of our free and clear house will have to be $363k in 2 years to be worth the same value.
$423,403, if we're talking in terms of the 18.8% real estate increase we had last year.
Just by having our money out of the market, we could loose a ton in real terms.
I just want to be able to buy a decent house for my family again.
Here's the options I've looked at:
Buy a house now, even if we won't live in it for a couple years. This is perfect in the idea of preserving real estate buying power. I just don't feel ready yet because I don't know if my husband's health will stabilize and how much I should be taking on in projects. I also don't like the high price & increasing interest rates combination.
Side Note: We are also going back and forth between buying my in law's out of their house (with all of our money, which is a large discount) and letting them live there with us until they pass in 15-20 years, or buying something that isn't everything we want (dry farmland, personal well, huge workshop, low energy...), but we avoid potential struggles in maintaining sovereignty of our own family while living with the in laws in what used to be their house. They've already built themselves their own mother-in-law suite, so we wouldn't have to share kitchens, but we would have a shared living room.
Put it in precious metals. I like that this will likely preserve real estate purchasing power. It could increase purchasing power if the market drops, or decrease in purchasing power if the market just keeps going. It's just a lot of eggs in one basket, which makes me pretty nervous.
What am I not considering? Because I know there's more decent ideas.
With a 10% inflation rate, the approximately $300k we get from the sale of our free and clear house will have to be $363k in 2 years to be worth the same value.
$423,403, if we're talking in terms of the 18.8% real estate increase we had last year.
Just by having our money out of the market, we could loose a ton in real terms.
I just want to be able to buy a decent house for my family again.
Here's the options I've looked at:
Buy a house now, even if we won't live in it for a couple years. This is perfect in the idea of preserving real estate buying power. I just don't feel ready yet because I don't know if my husband's health will stabilize and how much I should be taking on in projects. I also don't like the high price & increasing interest rates combination.
Side Note: We are also going back and forth between buying my in law's out of their house (with all of our money, which is a large discount) and letting them live there with us until they pass in 15-20 years, or buying something that isn't everything we want (dry farmland, personal well, huge workshop, low energy...), but we avoid potential struggles in maintaining sovereignty of our own family while living with the in laws in what used to be their house. They've already built themselves their own mother-in-law suite, so we wouldn't have to share kitchens, but we would have a shared living room.
Put it in precious metals. I like that this will likely preserve real estate purchasing power. It could increase purchasing power if the market drops, or decrease in purchasing power if the market just keeps going. It's just a lot of eggs in one basket, which makes me pretty nervous.
What am I not considering? Because I know there's more decent ideas.
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